Energy firm Con Edison selects Cognizant to modernise app, tech infrastructure

American energy utility firm Con Edison has selected information technology services firm Cognizant to modernise its application and technology infrastructure. Con Edison serves more than 10 million customers in New York City and surrounding regions.

The multi-year agreement will see Teaneck, New Jersey and Chennai-based Cognizant build an IT infrastructure that will improve Con Edison’s efficiency and reliability, the companies said in a statement.

According to Cognizant, it will remodel Con Edison's legacy technology platform by moving service management software to the cloud. It will implement hyper-automation as well as enhance Con Edison’s internet of things (IoT) and analytics capabilities.

This transformation will improve Con Edison’s service delivery capabilities. The solutions will also help the company improve its response to environmental impacts, the statement said. Con Edison is one of the largest utility firms in the US with over $12 billion in annual revenues. 

“We are optimising digital technologies to support customers with energy solutions that provide personalisation, convenience and improve reliability. We will develop a more streamlined approach to technology, operations and customer engagement and advance our clean energy future,” James Prettitore, director of information technology at Con Edison, said.

Cognizant saw revenue growth fall after the recent slowdown in banking financial services and insurance vertical in the US, which is the company's primary market. 

While the value of the current contract is not known, the deal win in the energy sector can help the company decelerate its growth slide. At present, BFSI and healthcare contribute to over 60% of Cognizant revenue.

“Reliable, cost-effective and easily accessible clean energy is critical in today’s on-demand market. The business needs to respond to today’s energy challenges while creating consistent and positive experiences for customers,” Raj Radhakrishnan, senior vice president and global head of Cognizant’s energy, utilities and manufacturing practices, said.

Cognizant has been on an acquisition spree over the last couple of years; the firm bought two firms in the last one month after buying six in 2018 and four in 2019.